Cider, Perry & Rice Wine - Cambodia

Cambodia is experiencing significant growth in the Cider, Perry & Rice Wine market, driven by changing consumer preferences, emerging trends, and local special circumstances.

Customer preferences: Cambodian consumers are increasingly drawn to the unique flavors and cultural significance of traditional rice wine, which has been a staple in the country for centuries. The popularity of rice wine is further fueled by its affordability and accessibility, making it a preferred choice for many locals. Additionally, there is a growing interest in cider and perry among younger, urban consumers who are seeking new and innovative alcoholic beverages.

Trends in the market: One of the key trends in the Cider, Perry & Rice Wine market in Cambodia is the rise of craft cider and perry. Craft producers are focusing on creating high-quality, artisanal products that appeal to discerning consumers. These craft offerings often feature unique flavor profiles, using locally sourced ingredients, and are positioned as premium alternatives to mass-produced options. This trend is driven by a desire for authenticity and a growing appreciation for small-scale, independent producers. Another trend in the market is the increasing demand for flavored rice wines. Manufacturers are introducing a variety of flavors, such as fruit-infused or herbal-infused rice wines, to cater to diverse consumer preferences. These flavored options offer a refreshing twist to traditional rice wine and attract a wider consumer base.

Local special circumstances: Cambodia's rich cultural heritage and strong tradition of rice wine consumption contribute to the growth of the market. Rice wine holds a significant place in Cambodian culture and is often consumed during celebrations and social gatherings. This cultural attachment to rice wine creates a steady demand, ensuring its continued presence in the market. Furthermore, Cambodia's tourism industry plays a vital role in driving the growth of the Cider, Perry & Rice Wine market. As the country attracts a growing number of international tourists, there is an increased exposure to different alcoholic beverages, including cider and perry. This exposure leads to a greater demand for these products, both among tourists and locals who have been influenced by international trends.

Underlying macroeconomic factors: Cambodia's improving economy and rising disposable incomes have contributed to the growth of the Cider, Perry & Rice Wine market. As consumers have more spending power, they are willing to explore new and premium alcoholic beverages. This has created opportunities for both local and international cider, perry, and rice wine producers to enter the market and cater to the evolving consumer preferences. Additionally, the government's efforts to promote Cambodia as a tourist destination have resulted in increased investments in the hospitality sector. This has led to the establishment of more bars, restaurants, and hotels, providing a platform for the Cider, Perry & Rice Wine market to thrive. In conclusion, the Cider, Perry & Rice Wine market in Cambodia is experiencing growth due to customer preferences for traditional rice wine, emerging trends in craft cider and perry, local special circumstances related to cultural heritage and tourism, and underlying macroeconomic factors such as improving economy and rising disposable incomes.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.